The FINANCIAL — Bosch’s Thermotechnology Division plans to acquire Heliotek Maquinas e Equipamentos Ltda. head-quartered in Sao Paulo, a Brazilian manufacturer of solar thermal systems and heat pumps for domestic hot water heating.
The respective agreement was signed by Bosch, the Monier Group , that holds 51 percent of shares in Heliotek, and by the owners of the remaining 49 percent of shares, on May 28, 2012 in Sao Paolo. The transaction is subject to local regulatory approvals. According to the Bosch Group , the parties agreed not to disclose the purchase price. In 2011 Heliotek generated revenues of about 12 million euros and employed some 120 people.
Heliotek develops, produces, and markets solar thermal systems and heat pumps for domestic hot water heating in small and large residential buildings as well as for commercial applications such as hotels, schools and sports centers. The products are manufactured in Alphaville and marketed via a nationwide distribution network to some 200dealers.
“Heliotek’s solar thermal systems and heat pumps for domestic hot water heating ideally complement our existing product portfolio in Brazil in the gas water heating and air conditioning segments. The company’s distribution channels will give us access to one of the most promising solar thermal markets of the world,” said Uwe Glock, President of Bosch’s Thermotechnology Division.
“The acquisition allows us to become the first international manufacturer with own solar thermal production facilities in the dynamic Brazilian growth market and to further expand our market position in Brazil. Heliotek will be expanded to a regional competence centre of Bosch's Thermotechnology Division in Latin America and will cooperate with the other worldwide Bosch Thermotechnology locations to make an important contribution to the development of sustainable and resource-efficient technologies.
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